Big Data in Financial Services

Pascal Spelier, June 18th 2013

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715 MB DNA information

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105 million GB in an ejaculation

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Big Data, buzz word or serious business

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Trend 1 Mobility

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Trend 2 Social Media

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30.000 years ago What’s New?

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Trend 3 Cloud Computing

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Trend 4 Big Data

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90% of the data in the world today has been created in the

past 2 years alone

Volume   Velocity  

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More than 3.000 books published each day

Volume   Variety  

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: Masterplan to scan

all books

Volume   Variety  

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Data visualization Facebook

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Tweets per hour

Fri 7th – 15:55-16:55

Source:  www.tweetping.net  

Volume   Variety   Velocity  

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Volume   Variety   Velocity  

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Volume   Variety   Velocity  

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Big…

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Bigger… Yotabytes, Yotabytes & Yotabytes

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Biggest… 40.000 exabytes 20.000.000.000.000.000.000 pages of text

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Gartner Hypecycle

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The new technology gold rush: data

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It starts with… datamining

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From data to information, from information to intelligence

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Intelligence is Value

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The gap of untapped Big Data

23%  

Usef

ul if

Ta

gged

an

d An

alyze

d

3%  

Tagg

ed

0,5%  

Analy

zed

Source:      IDC’s  Digital  Universe,  sponsored  by  EMC,  December  2012  

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What does the future of Big Data look like?

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“Big data management is not viewed strategically at senior levels of

the organization.” 56%

“The issue for us is now not the growing volumes of data, but rather being able to analyze and act on data in real-‐time.” 84%

Source:      Report  ‘The  Deciding  Factor:Big  Data  &  Decision  Making’,  Capgemini  en  Economist  Intelligence  Unit,  June  2012  

Three biggest impediments:  

1)﴿ Too many silo’s, data is not pooled 2)﴿ Lack of skilled people to analyze the data 3)﴿ Time taken to analyze large data sets  

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Voorbeelden  

Big Data is out there, Let it work for your organization

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-  Segmentation -  Customer Journey -  Pricing & Promotions -  Product & Content -  Processes -  Social Media

Several applications of big data:

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Online banking simplified Fast Banking

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Groupon for financial services Transaction Driven Marketing Loyalty & rewards

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Pay As You Drive Premium per mile

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Pay How You Drive Insurance

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Achmea Dynamic Pricing

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Big Data at the Rabobank

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Big Data at the Rabobank

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Sentiment, a predictor of share prices…

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 Source: Bart Götte et al (2010) Online Reputation benchmark Retail banking

…or maybe not

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Start-‐up uses Big Data for loan approval

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Early Flagging: Improved risk assessment for mortgages

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What do people do all day?

Source: www.timeu.se, by Scott Golder, Cornell University

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Aggregated transaction data is valuable

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Analyzing payments and creating opportunities

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Data, Data, Data…

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Credit Card Crunching

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European Commission: “You’re renting the information from an individual”

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Privacy as a currency

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Pascal  Spelier    

Managing  Consultant  All  Channel  Experience  

 Reykjavikplein    1,  

Utrecht,    The  Netherlands    

Mobile:+31  (0)  6  53  29  90  17  pascal.spelier@capgemini.com  

Bedankt!